Mach7 Technologies scoops up imaging contract with Hong Kong Hospital Authority

Mach7 Technologies ASX M7T Hong Kong imaging radiology
Mach7 Technologies has secured a $15 million deal with Hong Kong’s Hospital Authority.

Mach7 Technologies (ASX: M7T) has scooped up a contract to provide its enterprise imaging solution to Hong Kong’s Hospital Authority, which manages the country’s public health system.

The Hospital Authority runs Hong Kong’s 43 public hospitals and institutions, 48 specialist out-patient clinics and 73 general out-patient clinics.

Under the contract, Mach7 will provide its enterprise imaging solution for an initial five-year period, with company estimating the value at HK$81 million ($15 million).

The Hospital Authority has an option to extend the contract a further five years at an incremental cost.

Mach7’s enterprise imaging platform will be rolled out across Hong Kong and enable radiology images to be transferred, stored, and viewed across public and private healthcare providers.

“We are very excited about this new strategic partnership with Hong Kong’s finest health care system,” Mach7 founder and chief strategy officer Ravi Krishnan said.

“It demonstrates the power of the Mach7 solutions to improve operational and clinical outcomes across an entire healthcare system, delivering a highly efficient and reliable platform for Hong Kong’s demanding imaging requirements.”

According to Mach7, its unique technology of intelligent data routing and image normalisation will enable physicians and radiologists to access clinical data from any location across the Hong Kong territory.

The company said its technology will provide a single network for imaging which will boost speed of diagnosis and lead to better clinical outcomes by avoiding repeat examinations.

Additionally by reducing repeat examinations, patients’ radiation exposure is also lowered, as well as costs and time.

Mach7 says its imaging platform unlocks silos of legacy systems and empowers healthcare providers to own, access and share patient data without boundaries.

In addition to this latest contract, Mach7 has secured numerous other contracts for its technology world-wide including multiple universities and health institutions such as London Imaging Centre, Massachusetts General Hospital, PennState Hershey Medical Centre, Singapore General Hospital, Sidra Medical and Research Centre, and Raffles Medical Group.

Lorna has more than 10 years' experience as a finance journalist and editor. She has written for numerous industry publications reporting on various sectors, including: resources, energy, construction, biotech, pharma, science and technology, agriculture, and chemicals. Specialising in resources, Lorna has also covered a myriad of small and large cap ASX and dual-listed stocks.